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Tax Reform 2021 Digital Storage

by SANSEI Trust Tax and Accounting

Dear clients / partners,

Based on 2021 Tax Reform, the Japan tax authorities have issued some guideline on storage of documents via digital method.

1.  The digital version should be time-stamped within 2 months when such documents are saved digitally. Where the time-stamping is not used, then the digital system should be able to confirm the fact and contents of any revisions, such as addition to the system, correction and deletion of the documents.
2.  The digital system should, at least, shows the date of the transaction, business partner / vendor and the transaction amount.
3.  The documents are downloadable upon request by the tax authorities.

The documents to which applicable to the above includes all prepared documents (such as journal entries, general ledgers, trial balance and financial statements) as well supporting documents (quotation, invoice, agreement, receipts, etc).

The above should be in compliance by 1 January 2022 but due to time constraint, the tax authorities may allow for the compliance to the above by the end of 2023.

(References in Japanese)
National Tax Agency
Revision of Electronic Books Preservation Act in 2021 Tax Reform (September 28, 2021)
The Electronic Books Preservation Act was revised (September 28, 2021)


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